The City chopped $11 million form funds to rebuild Brooklyn Bridge Park as politicians argue over the building of private condos on the property to pay for maintenance.

The City has chopped $11million from the money it pledged to finish building Brooklyn Bridge Park - as a fight over housing threatens to put the rest of the funds in jeopardy.

When Mayor Bloomberg took over the gleaming waterfront park from the state last year, he promised $55 million to help finish building the long-awaited green space.

But city officials quietly slashed that to $44 million earlier this year. The 20% cut is a blow to plans to build Pier 2, a chunk of the park at John St. and other projects.

The rest of the money could be in danger as well, unless the Bloomberg administration and local politicians can resolve a fight over whether to build more luxury condos in the park.

A new report suggests city officials are sticking with controversial plans to build the condo towers and use their income to pay for the park's upkeep. Local pols could veto that plan, but the city could pull all its promised funding if there's no deal on how to pay for the park's maintenance.